Michael outlines the steps taken to create the home page for the Paper Week website. First, he created a template and added the title. Second, he created tabs for the main sections. Third, he created a picture slider with four pages to display images and edited the images and text on each slide. Lastly, he added additional elements like contact details, images, a logo, and a tree icon to represent Paper Week. The final home page was completed with the picture slider functioning.